Jumbo Production Off Like a Rocket in Third Quarter

Mortgage bankers funded $40.8 billion worth of jumbo mortgages in the third quarter, a handsome 63% gain from the same period a year ago, according to exclusive survey figures compiled by National Mortgage News and the Alternative Products Quarterly Data Report.

Wells’ figure, however, is an estimate. The bank released an overall production number for the quarter and declined to provide specifics on jumbos, but it’s well known that the company (29% origination market share overall) is a key player in the sector.

Among the top 10 jumbo producers, U.S. Bank Home Mortgage had the highest growth rate at 112%. U.S. Bank ranked sixth overall.